The top 5 wealthiest cities in Africa
Although a large portion of Africa’s economy can still be described as underdeveloped, the continent has been improving and aiming for a better future for its population.
The Cities below show a great example of hard work that inspires residents to lift up their local economy and its life expectancy more and more.
- Johannesburg, South Africa
On top of the rundown, we have “the city of gold”. Johannesburg is the wealthiest city in Africa, home to 15.100 millionaires, 790 multi-millionaires, and two billionaires. According to the current Africa wealth report, Johannesburg’s wealth is concentrated in Sandton which is home to the Johannesburg stock exchange; the largest stock market in Africa, and also home to the head offices of the largest banks in Africa. - Cape Town, South Africa
The second spot on the wealthiest countries in Africa goes to Cape Town, the legislative capital of South Africa. Cape Town is the nation’s second-largest city and has 6500 millionaires, 390 multi-millionaires, and 1 billionaire. The city is also considered by many to be one of the greatest looking urban landscapes in the world. - Cairo, Egypt
3rd place goes to one of the most historical places in the world, and the biggest city in its country. Cairo represents 22% of Egypt’s economy and is home to the larger number of billionaires of any city in Africa. The wealth of the city is estimated at US$129 billion. Major modern areas in the city incorporate Telecommunication and the travel industry among other industries. - Lagos, Nigeria
Landing on number 4 comes Lagos, a city with an estimated of US$88 Billion. As indicated by the Africa Wealth report, Lagos has two billionaires, 5000 millionaires, and 260 multi-millionaires. In addition, the city is home to the absolute most costly housing market on the continent. Outstanding businesses in Lagos incorporate oil and gas, transport, among others. - Durban & Umhlanga, South Africa
Number 5 on the rundown goes to Durban with 3400 Millionaires and 210 Multi-millionaires, being the most active city in South Africa and the third richest city in the country with an estimated wealth of US$5.5B. Both Durban and Umhlanga are two of the quickest developing towns in the country throughout the most recent ten years.
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